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United States Steel (X) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, United States Steel (X - Free Report) closed at $25.78, marking a -1.9% move from the previous day. This change lagged the S&P 500's daily loss of 0.21%. At the same time, the Dow lost 0.42%, and the tech-heavy Nasdaq lost 0.64%.
Heading into today, shares of the steel maker had gained 7.18% over the past month, outpacing the Basic Materials sector's gain of 5.98% and lagging the S&P 500's gain of 7.71% in that time.
Investors will be hoping for strength from United States Steel as it approaches its next earnings release, which is expected to be April 27, 2023. On that day, United States Steel is projected to report earnings of $0.51 per share, which would represent a year-over-year decline of 83.28%. Our most recent consensus estimate is calling for quarterly revenue of $4.12 billion, down 21.29% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.40 per share and revenue of $16.96 billion. These totals would mark changes of -65.83% and -19.47%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for United States Steel. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 64.01% higher. United States Steel is currently sporting a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that United States Steel has a Forward P/E ratio of 7.74 right now. Its industry sports an average Forward P/E of 7.74, so we one might conclude that United States Steel is trading at a no noticeable deviation comparatively.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 15, which puts it in the top 6% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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United States Steel (X) Dips More Than Broader Markets: What You Should Know
In the latest trading session, United States Steel (X - Free Report) closed at $25.78, marking a -1.9% move from the previous day. This change lagged the S&P 500's daily loss of 0.21%. At the same time, the Dow lost 0.42%, and the tech-heavy Nasdaq lost 0.64%.
Heading into today, shares of the steel maker had gained 7.18% over the past month, outpacing the Basic Materials sector's gain of 5.98% and lagging the S&P 500's gain of 7.71% in that time.
Investors will be hoping for strength from United States Steel as it approaches its next earnings release, which is expected to be April 27, 2023. On that day, United States Steel is projected to report earnings of $0.51 per share, which would represent a year-over-year decline of 83.28%. Our most recent consensus estimate is calling for quarterly revenue of $4.12 billion, down 21.29% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.40 per share and revenue of $16.96 billion. These totals would mark changes of -65.83% and -19.47%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for United States Steel. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 64.01% higher. United States Steel is currently sporting a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that United States Steel has a Forward P/E ratio of 7.74 right now. Its industry sports an average Forward P/E of 7.74, so we one might conclude that United States Steel is trading at a no noticeable deviation comparatively.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 15, which puts it in the top 6% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.